Nifty has closed 41 points higher for the week at 5393 and REALTY, BANKING stocks led the gains. UNITECH shot up 9% while DLF 8% while good results from AXIS BANK followed by 6% gains in the stock. TCS results came above expectations and stock rose nearly 8% this week. OIL& GAS stocks saw profit-taking after Government announcement that it may bear 50% to 67% of the total revenue losses to be incurred by state-run fuel retailers this financial year on selling auto and cooking fuels at discounted prices and it has raised question about Government reform process with no free pricing in Diesel allowed – BPCL -7%, GAIL -6.6%. AUTO stocks were on the losing side after Nissan introduced their small car “Micra” – M&M lost 5.4%, MARUTI -3.5% and more selling pressure seen in those stocks. INFOSYS results were below expectations and stock fell 3% this week ................................................
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